What is SEPA Instant? Euro Area Instant Payments Explained

SEPA Instant Credit Transfer (SCT Inst) is the euro-area instant payments scheme run by the European Payments Council (EPC), launched in November 2017. It enables bank-to-bank transfers within SEPA in under 10 seconds, 24/7/365, with a per-transaction cap of EUR 100,000.

The EU Instant Payments Regulation (IPR), adopted in March 2024, requires all eurozone payment service providers (PSPs) to offer sending and receiving of SEPA Instant from October 9, 2025, with fees no higher than standard SEPA Credit Transfer. The obligation extends to non-eurozone PSPs in April 2027.

The IPR also introduces mandatory Verification of Payee (VoP) — a name-IBAN check to prevent Authorised Push Payment (APP) fraud — applicable from October 2025. EBA Clearing runs RT1 as the main rail alongside the Eurosystem's TIPS (European Central Bank).

SEPA Instant is the cornerstone of the European strategic autonomy agenda in payments, complemented by Wero (the EPI wallet, European Payments Initiative) and the ongoing digital euro preparation.